DLF Ltd.
DLFConsumer Discretionary filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
16 transcript(s)/analyst meet(s) served; 2 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 16 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| COVER_LETTER | 20220523 | 2022-03-31 | no | |
| COVER_LETTER | 20220530 | 2022-03-31 | no | |
| TRANSCRIPT | 20220804 | 2022-06-30 | yes | |
| TRANSCRIPT | 20221026 | 2022-09-30 | yes | |
| TRANSCRIPT | 20230131 | 2022-12-31 | yes | |
| TRANSCRIPT | 20230516 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230727 | 2023-06-30 | yes | |
| TRANSCRIPT | 20240730 | 2024-06-30 | yes | |
| TRANSCRIPT | 20241029 | 2024-09-30 | yes | |
| TRANSCRIPT | 20250130 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250522 | 2025-03-31 | yes | |
| TRANSCRIPT | 20250807 | 2025-06-30 | yes | |
| TRANSCRIPT | 20251104 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260129 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260518 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260807 | 2026-06-30 | yes |
DLF
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 670.40 |
| 52-week range | 504.1 – 779.5 |
| Return 1M | -1.84% |
| Return 3M | 7.89% |
| Return 1Y | -8.62% |
| Return 3Y | 28.4% |
| Return 5Y | 63.33% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 1,280.00 |
| Other income | 325.00 |
| Total income | 1,606.00 |
| Cost of materials consumed | 714.00 |
| Purchases of stock-in-trade | 0.00 |
| Changes in inventories | 0.00 |
| Employee benefit expense | 177.00 |
| Finance costs | 18.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.74 | 0.00 |
| institutions foreign | 0.12 | -0.01 |
| institutions domestic | 0.08 | 0.01 |
| mutual funds | 0.06 | 0.01 |
| public | 0.26 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| COVER_LETTER | 2022-03-31 | 2 |
| TRANSCRIPT | 2026-06-30 | 14 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 1,302.00 | 1,495.00 | 1,456.00 | 1,423.00 | 1,348.00 | 1,521.00 | 2,135.00 | 1,362.00 | 1,975.00 | 1,529.00 | 3,128.00 | 2,717.00 | 1,643.00 | 2,020.00 | 1,814.00 | 1,280.00 |
| Other income | 58.00 | 65.00 | 120.00 | 98.00 | 129.00 | 122.00 | 182.00 | 367.00 | 206.00 | 209.00 | 220.00 | 264.00 | 619.00 | 459.00 | 280.00 | 325.00 |
| Total income | 1,360.00 | 1,560.00 | 1,576.00 | 1,522.00 | 1,476.00 | 1,644.00 | 2,317.00 | 1,730.00 | 2,181.00 | 1,737.00 | 3,348.00 | 2,981.00 | 2,262.00 | 2,480.00 | 2,094.00 | 1,606.00 |
| Cost of materials consumed | 523.00 | 617.00 | 622.00 | 688.00 | 580.00 | 664.00 | 862.00 | 662.00 | 1,080.00 | 738.00 | 1,652.00 | 1,948.00 | 935.00 | 1,158.00 | 807.00 | 714.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Employee benefit expense | 136.00 | 134.00 | 155.00 | 173.00 | 124.00 | 126.00 | 124.00 | 164.00 | 165.00 | 134.00 | 129.00 | 144.00 | 146.00 | 168.00 | 182.00 | 177.00 |
| Finance costs | 107.00 | 95.00 | 85.00 | 85.00 | 90.00 | 84.00 | 98.00 | 101.00 | 94.00 | 94.00 | 109.00 | 79.00 | 63.00 | 36.00 | 21.00 | 18.00 |
| Depreciation and amortisation | 37.00 | 39.00 | 36.00 | 36.00 | 37.00 | 38.00 | 37.00 | 37.00 | 38.00 | 39.00 | 37.00 | 34.00 | 30.00 | 30.00 | 48.00 | 35.00 |
| Other expenses | 206.00 | 266.00 | 282.00 | 166.00 | 182.00 | 221.00 | 396.00 | 308.00 | 228.00 | 257.00 | 369.00 | 260.00 | 278.00 | 304.00 | 415.00 | 239.00 |
| Total expenses | 1,009.00 | 1,152.00 | 1,178.00 | 1,148.00 | 1,012.00 | 1,132.00 | 1,515.00 | 1,272.00 | 1,604.00 | 1,261.00 | 2,295.00 | 2,466.00 | 1,452.00 | 1,697.00 | 1,473.00 | 1,183.00 |
| Profit before exceptional items and tax | 351.00 | 408.00 | 397.00 | 373.00 | 464.00 | 512.00 | 802.00 | 458.00 | 577.00 | 476.00 | 1,053.00 | 515.00 | 810.00 | 783.00 | 621.00 | 423.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -302.00 | 0.00 | 0.00 | 235.00 | -60.00 | 28.00 | 0.00 |
| Profit before tax | 351.00 | 408.00 | 397.00 | 373.00 | 464.00 | 512.00 | 802.00 | 458.00 | 577.00 | 174.00 | 1,053.00 | 515.00 | 1,045.00 | 723.00 | 649.00 | 423.00 |
| Current tax | 14.00 | 11.00 | -45.00 | 22.00 | 25.00 | 24.00 | 66.00 | 48.00 | 38.00 | 553.00 | 38.00 | 93.00 | 60.00 | 31.00 | -98.00 | 29.00 |
| Deferred tax | 77.00 | 99.00 | 157.00 | 80.00 | 87.00 | 111.00 | 106.00 | 70.00 | -505.00 | -820.00 | 144.00 | 40.00 | 216.00 | -39.00 | 6.00 | 85.00 |
| Tax expense | 91.00 | 110.00 | 113.00 | 101.00 | 112.00 | 135.00 | 171.00 | 118.00 | -467.00 | -267.00 | 181.00 | 133.00 | 276.00 | -7.00 | -92.00 | 115.00 |
| Profit for the period | 477.00 | 518.00 | 570.00 | 526.00 | 622.00 | 656.00 | 920.00 | 645.00 | 1,381.00 | 1,059.00 | 1,282.00 | 763.00 | 1,180.00 | 1,203.00 | 1,269.00 | 794.00 |
| Profit attributable to owners | 477.00 | 519.00 | 570.00 | 527.00 | 623.00 | 657.00 | 921.00 | 646.00 | 1,381.00 | 1,059.00 | 1,282.00 | 763.00 | — | 1,203.00 | 1,269.00 | 794.00 |
| Profit attributable to non-controlling interests | 0.00 | -1.00 | -0.00 | -1.00 | -1.00 | -1.00 | -1.00 | -1.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | 0.00 | 0.00 | 0.00 |
| Other comprehensive income | 10.00 | -4.00 | 11.00 | 1.00 | 6.00 | -8.00 | 6.00 | 2.00 | 6.00 | -4.00 | -14.00 | 3.00 | -9.00 | 3.00 | -4.00 | -0.00 |
| Total comprehensive income | 487.00 | 513.00 | 580.00 | 527.00 | 628.00 | 648.00 | 926.00 | 646.00 | 1,387.00 | 1,055.00 | 1,268.00 | 766.00 | 1,171.00 | 1,207.00 | 1,265.00 | 794.00 |
| Earnings per share, basic | 1.93 | 2.10 | 2.30 | 2.13 | 2.52 | 2.65 | 3.72 | 2.61 | 5.58 | 4.28 | 5.18 | 3.08 | 4.77 | 4.86 | 5.12 | 3.21 |
| Earnings per share, diluted | 1.93 | 2.10 | 2.30 | 2.13 | 2.52 | 2.65 | 3.72 | 2.61 | 5.58 | 4.28 | 5.18 | 3.08 | 4.77 | 4.86 | 5.12 | 3.21 |
Annual results, as filed
| Line | 2018-03-31 | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|---|---|
| Revenue from operations | 6,707.00 | 5,414.00 | 5,717.00 | 5,695.00 | 6,427.00 | 7,994.00 | 8,194.00 |
| Other income | 957.00 | 531.00 | 420.00 | 317.00 | 531.00 | 1,002.00 | 1,622.00 |
| Total income | 7,664.00 | 5,945.00 | 6,138.00 | 6,012.00 | 6,958.00 | 8,996.00 | 9,816.00 |
| Cost of materials consumed | 3,115.00 | 2,849.00 | 2,745.00 | 2,434.00 | 2,794.00 | 4,132.00 | 4,849.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Employee benefit expense | 344.00 | 314.00 | 354.00 | 548.00 | 546.00 | 592.00 | 640.00 |
| Finance costs | 2,951.00 | 853.00 | 625.00 | 392.00 | 356.00 | 397.00 | 199.00 |
| Depreciation and amortisation | 534.00 | 159.00 | 149.00 | 149.00 | 148.00 | 151.00 | 142.00 |
| Other expenses | 870.00 | 833.00 | 876.00 | 987.00 | 964.00 | 1,161.00 | 1,257.00 |
| Total expenses | 7,814.00 | 5,009.00 | 4,749.00 | 4,510.00 | 4,808.00 | 6,433.00 | 7,087.00 |
| Profit before exceptional items and tax | -150.00 | 936.00 | 1,389.00 | 1,502.00 | 2,151.00 | 2,563.00 | 2,729.00 |
| Exceptional items | 8,765.00 | -96.00 | -224.00 | 0.00 | 0.00 | -302.00 | 203.00 |
| Profit before tax | 8,615.00 | 840.00 | 1,165.00 | 1,502.00 | 2,151.00 | 2,261.00 | 2,932.00 |
| Current tax | 4,323.00 | 106.00 | 59.00 | -6.00 | 136.00 | 677.00 | 87.00 |
| Deferred tax | 0.00 | 256.00 | 262.00 | 407.00 | 384.00 | -1,111.00 | 223.00 |
| Tax expense | 4,323.00 | 362.00 | 321.00 | 402.00 | 520.00 | -434.00 | 310.00 |
| Profit for the period | 4,477.00 | 1,083.00 | 1,500.00 | 2,034.00 | 2,724.00 | 4,367.00 | 4,415.00 |
| Profit attributable to owners | 4,464.00 | 1,094.00 | 1,501.00 | 2,036.00 | 2,727.00 | 4,368.00 | 4,415.00 |
| Profit attributable to non-controlling interests | 13.00 | -11.00 | -1.00 | -2.00 | -4.00 | -1.00 | 0.00 |
| Other comprehensive income | 12.00 | 4.00 | 13.00 | 17.00 | 6.00 | -11.00 | -6.00 |
| Total comprehensive income | 4,489.00 | 1,086.00 | 1,513.00 | 2,051.00 | 2,730.00 | 4,356.00 | 4,408.00 |
| Earnings per share, basic | 25.02 | 4.42 | 6.06 | 8.22 | 11.02 | 17.64 | 17.83 |
| Earnings per share, diluted | 23.62 | 4.42 | 6.06 | 8.22 | 11.02 | 17.64 | 17.83 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Total assets | 52,754.00 | 53,928.00 | 56,058.00 | 60,262.00 | 62,579.00 | 69,475.00 | 68,940.00 | 74,875.00 |
| Non-current assets | 28,354.00 | 28,157.00 | 28,767.00 | 26,706.00 | 27,483.00 | 27,421.00 | 30,616.00 | 34,154.00 |
| Current assets | 24,126.00 | 25,242.00 | 26,784.00 | 33,018.00 | 34,568.00 | 41,220.00 | 37,490.00 | 40,669.00 |
| Property, plant and equipment | 791.00 | 748.00 | 723.00 | 691.00 | 657.00 | 630.00 | 601.00 | 592.00 |
| Capital work-in-progress | 89.00 | 61.00 | 61.00 | 68.00 | 73.00 | 77.00 | 98.00 | 159.00 |
| Goodwill | 944.00 | 944.00 | 944.00 | 944.00 | 944.00 | 944.00 | 944.00 | 944.00 |
| Other intangible assets | 144.00 | 142.00 | 139.00 | 219.00 | 133.00 | 222.00 | 227.00 | 217.00 |
| Inventories | 19,676.00 | 19,361.00 | 19,570.00 | 21,154.00 | 21,620.00 | 24,621.00 | 24,567.00 | 24,717.00 |
| Trade receivables | 732.00 | 549.00 | 541.00 | 538.00 | 578.00 | 802.00 | 770.00 | 847.00 |
| Cash and cash equivalents | 478.00 | 211.00 | 780.00 | 1,394.00 | 457.00 | 753.00 | 1,137.00 | 2,273.00 |
| Total equity and liabilities | 52,754.00 | 53,928.00 | 56,058.00 | 60,262.00 | 62,579.00 | 69,475.00 | 68,940.00 | 74,875.00 |
| Equity | 36,597.00 | 37,692.00 | 37,857.00 | 39,432.00 | 40,227.00 | 42,550.00 | 43,002.00 | 45,473.00 |
| Equity share capital | 495.00 | 495.00 | 495.00 | 495.00 | 495.00 | 495.00 | 495.00 | 495.00 |
| Other equity | 36,082.00 | 37,192.00 | 37,360.00 | 38,936.00 | 39,732.00 | 42,055.00 | 42,507.00 | 44,978.00 |
| Total liabilities | 16,157.00 | 16,236.00 | 18,200.00 | 20,831.00 | 22,351.00 | 26,925.00 | 25,938.00 | 29,401.00 |
| Non-current liabilities | 5,569.00 | 5,051.00 | 5,107.00 | 6,690.00 | 6,083.00 | 4,692.00 | 3,674.00 | 3,800.00 |
| Current liabilities | 10,552.00 | 10,927.00 | 12,895.00 | 14,137.00 | 16,264.00 | 22,200.00 | 22,229.00 | 25,601.00 |
| Borrowings, non-current | 1,838.00 | 1,271.00 | 1,174.00 | 2,667.00 | 2,638.00 | 1,911.00 | 659.00 | 0.00 |
| Borrowings, current | 1,799.00 | 2,063.00 | 2,143.00 | 2,167.00 | 1,652.00 | 2,192.00 | 1,119.00 | 45.00 |
| Trade payables | 1,627.00 | 1,644.00 | 1,673.00 | 1,788.00 | 1,905.00 | 2,261.00 | 1,871.00 | 1,720.00 |
Cash flow, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 1,027.00 | 2,375.00 | 2,152.00 | 2,539.00 | 2,563.00 | 5,235.00 | 1,898.00 | 6,347.00 |
| Net cash from investing activities | 401.00 | -463.00 | -393.00 | -1,529.00 | -1,487.00 | -3,543.00 | 2,488.00 | 721.00 |
| Net cash from financing activities | -1,259.00 | -2,011.00 | -1,186.00 | 176.00 | -2,013.00 | -2,334.00 | -4,001.00 | -5,547.00 |
| Purchase of property, plant and equipment | 22.00 | 64.00 | 94.00 | 116.00 | 25.00 | 96.00 | 57.00 | 129.00 |
| Net increase in cash | 169.00 | -98.00 | 573.00 | 1,186.00 | -937.00 | -642.00 | 385.00 | 1,522.00 |
| con:CFO.BEFORE_TAX | 1,051.00 | 2,461.00 | 2,223.00 | 2,826.00 | 2,596.00 | 5,055.00 | 2,254.00 | 7,013.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 24.00 | 86.00 | 71.00 | 257.00 | 32.00 | 122.00 | 356.00 | 666.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | -30.00 | 0.00 | 302.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 1,260.00 | 1,247.00 | 1,876.00 | 295.00 | 1,198.00 | 5.00 | 24.00 |
| con:INVESTMENTS_SOLD | 0.00 | 1,398.00 | 1,469.00 | 1,737.00 | 106.00 | 121.00 | 49.00 | 5.00 |
| con:PPE_DISPOSALS | 0.00 | 9.00 | 0.00 | 743.00 | 1.00 | 1.00 | 10.00 | 13.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 94.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 74.95 | 74.95 | 74.08 | 74.08 | 74.08 | 74.08 | 74.08 | 74.08 | 74.08 | 74.08 | 0.74 | 0.74 | 0.74 | 0.74 |
| Domestic institutions | 5.22 | 4.87 | 5.27 | 5.47 | 4.77 | 4.81 | 4.65 | 4.87 | 4.72 | 5.01 | 0.05 | 0.06 | 0.07 | 0.08 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 3.61 | 0.04 | 0.04 | 0.05 | 0.06 |
| Insurance companies | 1.25 | 1.23 | 1.07 | 1.06 | 0.95 | 0.76 | 0.85 | 0.83 | 0.92 | 0.93 | 0.01 | 0.01 | 0.01 | 0.01 |
| Foreign institutions | 14.66 | 15.30 | 15.89 | 15.75 | 16.53 | 16.16 | 16.65 | 16.37 | 16.27 | 15.97 | 0.15 | 0.15 | 0.14 | 0.12 |
| Government | — | — | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Public | 25.05 | 25.05 | 25.92 | 25.92 | 25.92 | 25.92 | 25.92 | 25.92 | 25.92 | 25.92 | 0.26 | 0.26 | 0.26 | 0.26 |
| Non-institutional | 5.17 | 4.88 | 4.76 | 4.70 | 4.62 | 4.95 | 4.62 | 4.69 | 4.94 | 4.93 | 0.05 | 0.05 | 0.05 | 0.06 |
| Shares outstanding | 2475311706 | 2475311706 | 2475311706 | 2475311706 | 2475311706 | 2475311706 | 2475311706 | 2475311706 | 2475311706 | 2475311706 | 2475311706 | 2475311706 | 2475311706 | 2475311706 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| DLF Clubs & Hospitality Limited (Formerly DLF Recreation | Fellow Subsidiary | Any other transaction, Interest paid, Interest recei | 1,689,470,000.00 | 21 |
| DLF Cyber City Developers Limited | Fellow Subsidiary | Any other transaction, Investment, Purchase of goods | 880,331,000.00 | 17 |
| DLF Projects Limited | Fellow Subsidiary | Any other transaction, Investment, Sale of goods or | 505,573,000.00 | 7 |
| DLF Power & Services Limited | Fellow Subsidiary | Any other transaction, Purchase of goods or services | 456,871,000.00 | 12 |
| Sidhant Real Estate Developers and Services Private Limited | Other Related party | Any other transaction, Purchase of goods or services | 443,233,000.00 | 8 |
| Riveria Commercial Developers Limited | Fellow Subsidiary | Any other transaction, Interest received, Loan, Purc | 428,226,000.00 | 12 |
| DLF Assets Limited | Fellow Subsidiary | Any other transaction, Purchase of goods or services | 415,730,000.00 | 9 |
| Urvasi Infratech Private Limited | Fellow Subsidiary | Interest received, Loan | 242,240,000.00 | 14 |
| DLF Luxury Homes Limited | Fellow Subsidiary | Any other transaction, Investment, Sale of goods or | 174,483,000.00 | 8 |
| DLF Building & Services Private Limited | Other Related Party | Advance, Any other transaction, Sale of goods or ser | 161,942,000.00 | 10 |
| DLF Wellco Private Limited(formerly known as Ethan Estates D | Subsidiary | Any other transaction, Interest received, Investment | 124,659,000.00 | 5 |
| DLF Exclusive Floors Private Limited | Fellow Subsidiary | Interest received, Loan, Sale of goods or services | 117,084,000.00 | 4 |
| Atherol Builders & Developers Private Limited | Other related party | Advance, Any other transaction, Interest received, I | 94,254,000.00 | 10 |
| Uttam Builders & Developers Private Limited | Other Related Party | Any other transaction, Purchase of goods or services | 88,880,000.00 | 6 |
| Galleria Property Management Services Private Limited | Fellow Subsidiary | Any other transaction, Interest received, Loan | 86,048,000.00 | 5 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-08-07 | Q1FY27 | DLF LIMITED | Read the call |
| 2026-05-18 | FYFY26 | DLF LIMITED | Read the call |
| 2026-01-29 | Q3FY26 | DLF LIMITED | Read the call |
| 2025-11-04 | Q2FY26 | (RENTAL, CHIEF BUSINESS OFFICER, DLF LIMITED., LIMITED, MANAGING | Read the call |
| 2025-08-07 | Q1FY26 | DLF LIMITED | Read the call |
| 2025-05-22 | FYFY25 | LIMITED | Read the call |
| 2025-01-30 | Q3FY25 | LIMITED | Read the call |
| 2024-10-29 | Q2FY25 | CHIEF BUSINESS OFFICER, DIRECTOR -RENTAL BUSINESS | Read the call |
| 2024-07-30 | Q1FY25 | DLF LIMITED, RENTAL BUSINESS | Read the call |
| 2023-07-27 | Q1FY24 | Read the call | |
| 2023-05-16 | Q4FY23 | Read the call | |
| 2023-01-31 | Q3FY23 | Read the call | |
| 2022-10-26 | Q2FY23 | Read the call | |
| 2022-08-04 | Q1FY23 | Read the call |
Some earlier announcements under this heading are covering letters only — no transcript was attached.
What they said about it, quarter by quarter
| Topic | Q1FY27 | Q2FY23 | Q2FY25 | Q2FY26 | Q3FY23 | Q3FY25 | Q3FY26 | Q4FY23 |
|---|---|---|---|---|---|---|---|---|
| Capex | Our capex program on Downtown Gurgaon Phase 2 and Downtown Chennai Phase 2 are going at full speed and the leasing here in Gurgaon is about 40%. | We continue to have a positive outlook towards the office business, and hence continue to judiciously put our CAPEX to feed growth in this business. | On the free cash flow piece, we continue to generate strong cash flows and did about INR1,200 crores of free cash flow on the DevCo side and about INR… | And have we started thinking about which assets to start working on, because we are almost done with this round of CAPEX in DLF Limited? | In light of the Hyderabad asset development being pushed back, we have repaid the outstanding capex advance of INR 582 crores to DCCDL group out of th… | The capex program on the development of new assets is going quite strongly. | — | So there is a significant outflow, which is happening, both on the construction and the construction, including the capex side. |
| Capital allocation | But on the land acquisition side, things have picked up. | 292 crores on account of increased dividend payout. | So we haven't seen much of land acquisition or project acquisition being done outside of NCR market. | In line with our strategy of increasing shareholder returns through higher dividend payouts, we paid Rs. | — | — | So, are we looking for a bigger jump in dividend payout this year? | — |
| Costs | — | — | — | — | Our exit interest cost as of this quarter is 7.85%, 7.86% and I personally don't see the interest rates going up beyond maybe 25 basis points further … | — | — | — |
| Debt and cash | Operating cash flow continues to be strong at over INR 1,300 crores in the quarter. | Deleveraging remains a focus area, and consequently, our net debt stood at Rs. | So combined as a business, we continue to generate about INR2,000 crores plus of free cash flow per quarter. | CRISIL has upgraded the credit rating of DLF Limited, and it stands at AA+ with a Stable Outlook, which reflects of our strong balance sheet, our heal… | Operating cash flow for the quarter stood at INR 633 crores. | You must have seen the cash flows for the quarter are also extremely healthy at INR 1,800 crores. | We are pleased to report a strong performance in third quarter of this fiscal with robust operating execution, strong cash flows, and a significantly … | What do you plan to do, with operating cash flow in FY '24 now that, you are nearly net debt-free? |
| Demand | New sales bookings for the quarter were INR 657 crores, reflecting the timing impact of deferment of our launch of Aureva, our senior living product. | Housing demand continued to remain buoyant during the period. | And some other approvals are in the pipeline. | My question was on your launch pipeline in the second half. | Our luxury offering - The Grove DLF 5, Gurugram stands completely sold out, reaffirming demand for quality offerings at established locations. | The first question is related to the demand situation in Gurgaon. | A few things we would like to highlight around this are, as previously indicated, bookings at Dahlias were paused during Q3 as a part of planned redes… | And considering that we've increased our launch pipeline to 11 million square feet for the current financial year, adding up to a sales potential of c… |
| Guidance | And are we still on track for the INR200 billion guidance in the event that the Goa project doesn't come through in FY27? | We continue to perform consistently across all parameters in line with the guidance. | But we still maintain a first half total sales -- presales of about INR7,000 crores and continue to be strongly poised for achieving our sales guidanc… | Consequently, cumulatively, our sales for the first half of this fiscal stands at over Rs.15,750 crores, which is in line with the guidance which we h… | We expect this trend to continue as we scale up our new launches. | We expect the OC to come in this quarter. | January 23, 2026 But that's the final call that we take is post this quarter when we kind of make our annual guidance. | From the residential part one is, how would you think about your sales guidance for next year after this INR15,000 crores sales this year? |
| Margin | Our revenue stood at INR 1,605 crores, yielding an EBITDA of INR 476 crores for the quarter. | Gross margin improved to 60% driven by superior product mix. | But what's been reported in RERA officially is a total revenue of INR26,000 crores and a margin of 70% plus. | At the end of this quarter, as on 30th September, our gross margin potential stood at over Rs. | Gross margins improved at 59% supported by a higher contribution of Camellias, The EBITDA stood at INR 542 crores with margins at 35%. | Sriram, on DCCDL, if you look at it, your debt-to-EBITDA has been consistently coming down, whereas your rentals have gone up. | Puneet, just to add one more point, our margin for this project will remain intact despite what we are doing. | I think, we should be looking at the pre-sales value and most important, the margin that we are going to generate. |
| People | Last 2 quarters, there has been a fair amount of debate on the impact of AI on the hiring of the various multinationals and GCCs and how it is impacti… | — | — | — | — | — | So just one question on the cash balance and its utilization that we have. | Just following-up on the previous question on utilization of the cash. |
| Pricing | We have created history in terms of the first 9 weeks of sale as well as if you see the kind of collections that are going on, plus the price realizat… | The second one is, you know, Vivek, on the pricing. | So obviously -- in fact, I thought you were complimenting us saying that very aggressive pricing. | So, almost a Camellias kind of a pricing? | And at this point in time, I think we are still in the process of finalizing the launch, including the pricing. | One, on the pricing side, while whatever we have sold is at INR 65,000 per square feet roughly on sellable and whatever inventory that is left is righ… | Just to let you know, from the past year alone, there has already been a 25% increase in Dahlia’s pricing and we are selling. | Because since our last Investor Day last year, it came across that we are very optimistic on the pricing part. |
| Revenue growth | Our consolidated revenue stood at INR1,917 crores, reflecting a growth of 10% year-over-year, yielding an EBITDA of INR 1,474 crores. | 2,052 crores reflecting a year-on-year growth of 36%. | — | — | Our Residential business delivered a strong performance and clocked one of the highest quarterly new sales booking of INR 2,507 crores, reflecting yea… | — | 1,252 crores, reflecting a growth of 29% year-over-year. | We collected INR5,300 crores of collections we had, which was almost a growth of 25%. |
What they said they would do
Sentences in which management set an expectation. Each names the speaker and the page of the transcript it came from.
| Date | Quarter | Who | What they said |
|---|---|---|---|
| 2025-08-07 | Q1FY26 | DLF LIMITED | And this is in line with our guidance of almost on a product portfolio perspective, a weighted average margin of 45%. |
| 2026-05-18 | FYFY26 | DLF LIMITED | We also created a benchmark about 2 years ago in crossing a rental of INR 100 in Taramani, the 450,000 square feet, 500,000 square feet that we have leased in Tower 4 and 5, I must share that the top floors which have a 360o view of the city and the sea have been leased at INR 145 to INR 150 per square feet and we expect average rental realization of between INR 125 per square feet, INR 130 per square feet there. |